{"id":22822,"date":"2023-08-09T23:30:10","date_gmt":"2023-08-09T23:30:10","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/cleanspark-reports-a-47-annualised-growth-in-quarterly-revenue\/"},"modified":"2023-08-09T23:30:10","modified_gmt":"2023-08-09T23:30:10","slug":"cleanspark-reports-a-47-annualised-growth-in-quarterly-revenue","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/cleanspark-reports-a-47-annualised-growth-in-quarterly-revenue\/","title":{"rendered":"CleanSpark reports a 47% annualised growth in quarterly revenue"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/205272217_m_normal_none-min-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/205272217_m_normal_none-min-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/205272217_m_normal_none-min-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/205272217_m_normal_none-min-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>CleanSpark narrowed its loss in its fiscal third quarter.<\/li>\n<li>The bitcoin mining company had a blockbuster July.<\/li>\n<li>CleanSpark shares are up over 150% YTD at writing.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin\/\">Bitcoin<\/a> miner CleanSpark Inc is trading slightly up in extended hours after reporting a narrower-than-expected loss for its fiscal third quarter.<\/p>\n<h2>CleanSpark Q3 financial highlights<\/h2>\n<p>Lost $14.2 million versus the year-ago $29.3 million<\/p>\n<p>Per-share loss also narrowed from 40 cents to 12 cents<\/p>\n<p>Revenue jumped 47% year-on-year to $45.5 million<\/p>\n<p>Consensus was 17 cents loss on $45.7 million revenue<\/p>\n<p>Ended the quarter with $125 million of cash and bitcoin<\/p>\n<p>The <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin-mining\/\">bitcoin mining<\/a> company now has assets worth more than liabilities on its balance sheet. Gary Vecchiarelli \u2013 the Chief Financial Officer of CleanSpark said today in the press release:<\/p>\n<blockquote>\n<p>I like the flexibility of our balance sheet and our operational performance. We have all pieces in place to extend our strong track record of growth and operational excellence.<\/p>\n<\/blockquote>\n<h2>CleanSpark had a blockbuster July<\/h2>\n<p>CleanSpark had its Georgia location go live in July that added more than 15,000 miners and 50 megawatts of power, as per the <a href=\"https:\/\/www.prnewswire.com\/news-releases\/cleanspark-reports-third-quarter-fy2023-financial-results-announces-16-ehs-expansion-fully-funded-301897210.html\" target=\"_blank\" rel=\"noopener\">press release<\/a>.<\/p>\n<p>The Nasdaq-listed firm trailed only Marathon Digital and Core Scientific in terms of the number of bitcoin mined last month. According to its CEO Zach Bradford:<\/p>\n<blockquote>\n<p>We have fully funded our growth to 16 EH\/s, including miners, facilities, and other infrastructure. We continue to build on our track record of executing on commitments.<\/p>\n<\/blockquote>\n<p>The hash rate improved to 9 EH\/s in its recently concluded quarter. At writing, shares of CleanSpark Inc are up more than 150% versus the start of 2023. Its peer Marathon Digital also reports its quarterly update earlier this week (<a href=\"https:\/\/coinjournal.net\/news\/bitcoin-miner-marathon-digital-q2-earnings-report\/\">read more<\/a>).<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/cleanspark-q3-earnings-report\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) CleanSpark narrowed its loss in its fiscal third quarter. The bitcoin mining company had a blockbuster July. CleanSpark shares are up over 150% YTD at writing. Bitcoin miner CleanSpark Inc is trading slightly up in extended hours after reporting a narrower-than-expected loss for [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":22823,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22822"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=22822"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22822\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/22823"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=22822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=22822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=22822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}